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Middle East in English📡 Al-MonitorBy Jack DuttonSep 28, 2026👁 1 views

Oil rises amid Hormuz impasse, Trump attack threat

Oil rises amid Hormuz impasse, Trump attack threat

Oil rose after weekend reports suggested talks to reopen the Strait of Hormuz had stalled.

Jack Dutton Sep 28, 2026
    • In this picture obtained from Iran's ISNA news agency on June 18, 2026, vessels are seen anchored in Bandar Abbas along the Strait of Hormuz. — AMIRHOSSEIN KHORGOOEI / ISNA / AFP via Getty Images

      Oil prices rose by more than 3% on Monday as hopes of reopening the Strait of Hormuz faded after President Donald Trump rejected Iran’s latest proposal.

      What happened: Brent crude, the international benchmark for oil prices, rose by more than 3% on Monday but has since eased back to $105.03 per barrel as of 12:32 a.m. EDT on Monday.

      Oil rose after weekend reports suggested talks to reopen the Strait of Hormuz, a key route for energy shipments, had stalled.

      Trump on Saturday said Tehran’s latest proposal for ending the seven-month US-Israel war on Iran was not acceptable.

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